Australia's Warrnambool recommends revised bid from Saputo

SYDNEY Nov 15 (Reuters) - Warrnambool Cheese and Butter
Factory Holdings Ltd (WCB) said its board recommends
that WCB shareholders accept a new takeover offer from Canada's
Saputo Inc, which raised its bid for the Australian
dairy company by 12.5 percent.

Saputo's revised offer of A$9 per share values WCB at A$505
million ($470.84 million), the Australian company said in a
statement on Friday.